Italy's economy minister confirms budget forecasts

FILE PHOTO: Italian Economy Minister Giovanni Tria attends as Prime Minister Giuseppe Conte (unseen) speaks during his first session at the Lower House of the Parliament in Rome, Italy, June 6, 2018. REUTERS/Tony Gentile/File Photo

ROME (Reuters) - Italy’s Economy Minister Giovanni Tria said on Wednesday the government found it appropriate to confirm the forecasts in its multi-year budget plan, after it failed to be validated by the parliamentary budget office.

Tria added that the coalition government, made up of the 5-Star Movement and the League, “could not and must not” base its forecasts on downside risk scenarios.

He said that the rise in Italy’s deficit, as envisaged in the budget plan, would be worth 22 billion euros (19.2 billion pounds) next year, 27 billion euros in 2020 and 25 billion euros the year after.